Saturday, December 29, 2012

5 Totally Wild and Crazy Things You Should Do Before The Financial Apocalypse

Huffington Post’s  Catherine New writes: On Friday, President Barack Obama met with congressional leaders to work on a "fiscal cliff" compromise, but no deal had been reached as of happy hour. Should the country topple over the cliff, we've created a list of five crazy -- emphasis on crazy -- suggestions as to how you can save yourself from the rocky landing. 

1)Tell Your Boss You Want A Pay Cut. With the expiration of the Bush-era tax cuts, everyone's income tax rates will revert back to higher 2001 levels unless Congress reaches a compromise. Here's one sure way to lower the tax bill: Make less money next year and ask for more vacation in exchange. Heck, you might consider bartering your services for pine cones if the cliff dive takes a while...

2) Dump All Your Investments. In addition to market volatility making stocks wobble, high-income investors are about to get hit with a tax hike on their earnings starting Jan. 1. Meanwhile, the rest of us may as well cash out to take advantage of this year's lower capital gains tax rate; a key proposal in the fiscal cliff negotiations is a bigger capital gains tax bite….

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